NGN Telecoms Limited Small abridged accounts
NGN Telecoms Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
06249526
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Abridged Financial Statements |
Year ended 31 May 2017
Contents |
Page |
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
3 |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 May 2017
Smithbrook Kilns
Cranleigh
Surrey
United Kingdom
GU6 8JJ
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
|
– |
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Current assets
Debtors |
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Cash at bank and in hand |
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-------- |
--------- |
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Creditors: amounts falling due within one year |
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--------- |
--------- |
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Net current (liabilities)/assets |
(
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-------- |
-------- |
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Total assets less current liabilities |
(
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-------- |
-------- |
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Capital and reserves
Called up share capital |
7 |
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Profit and loss account |
(
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||
-------- |
-------- |
|||
Members (deficit)/funds |
(
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-------- |
-------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 February 2018
, and are signed on behalf of the board by:
Company registration number:
06249526
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Notes to the Abridged Financial Statements |
Year ended 31 May 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Flower Walk, Guildford, Surrey, GU2 4EP.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Turnover
Turnover arises from:
2017 |
2016 |
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£ |
£ |
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Rendering of services |
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-------- |
--------- |
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The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to Nil
(2016:
3
).
6.
Tangible assets
£ |
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Cost |
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Additions |
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------- |
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At 31 May 2017 |
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------- |
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Depreciation |
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Charge for the year |
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------- |
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At 31 May 2017 |
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------- |
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Carrying amount |
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At 31 May 2017 |
705 |
------- |
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At 31 May 2016 |
– |
------- |
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7.
Called up share capital
Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
|
|
|
200 |
|
120 |
---- |
---- |
---- |
---- |
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8.
Related party transactions
The company was under the control of the directors throughout the current year. Included in other debtors is a balance of £788 owed to the company by the directors (2016: a balance of £476 in other creditors owed to directors). Included in other debtors is a balance of £51,556 owed to the company by Sustainable Energy Technology Solutions Limted (2016: £83,056), a company owned by
G Shepherd
, one of the directors.
9.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the year.